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Question 1 Cindy, is the owner of CINDY Enterprise. The financial year end of the business is on 30 April annually. Below is the trial
Question 1 Cindy, is the owner of CINDY Enterprise. The financial year end of the business is on 30 April annually. Below is the trial balance extracted from the books of CINDY Enterprise as at 30 April 2022. Trial Balance as at 30 April 2022 The following additional Information are available: i. Inventory 30 April 2021 at cost RM18550 and at market price RMI5,000. ii. General office expenses owing RM260 iii. Allowance (Provision) for Doubtful debts at the rate of 5% of trade receivables iv, Goods costing RM250 were taken by Cindy for his own use v. Provide depreciation as for fixtures and fittings at 20% per annum and van at 15% per annum by using straight line method. Required: (a) Prepare Statement of Profit or Loss for the year ended 30 April 2022. (b) Prepare Statement of Financial Position as at 30 April 2022. (15 marks)
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